Tether Freezes Venezuelan Wallets

Tether, a popular cryptocurrency used for fast transactions, has decided to freeze all wallets associated with Venezuela.

Why? Because the Venezuelan state-owned oil company, PDVSA, began using Tether to evade U.S. sanctions on oil exports.

These actions aim to prevent Venezuela from circumventing sanctions imposed by the United States on oil exports. Tether, wanting to comply with the law, is freezing wallets associated with attempts to evade sanctions. PDVSA must now seek other ways to conduct transactions.

This situation illustrates that cryptocurrencies are becoming increasingly important in international politics and economics. Companies like Tether are striving to comply with the law, even if it means inconvenience for certain clients.